Stock Track | Bitdeer Technologies Stock Soars 5.12% Despite Q3 2024 Earnings Miss, Fueled by Growth Prospects

Stock Track11-18 23:46

Bitdeer Technologies Group (BTDR) witnessed a significant surge of 5.12% in its stock price during the intraday trading session on Monday, November 18th. This rally came despite the company reporting a larger-than-expected quarterly loss for the third quarter of 2024.

According to the earnings report, Bitdeer Technologies Group posted an adjusted loss of $0.35 per share for the quarter ended September 30, missing analysts' estimates of a $0.10 loss per share. The company's revenue also fell short of expectations, rising 13.7% year-over-year to $62.03 million but missing the consensus estimate of $78.85 million.

However, the company demonstrated robust growth in certain areas, including a substantial increase in proceeds from the disposal of cryptocurrencies, which could have fueled investor optimism. Additionally, analysts maintained a positive outlook on the stock, with the current average analyst rating being "buy" and a median 12-month price target of $14.

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This rally came despite the company reporting ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BTDR","symbol_name":"Bitdeer Technologies Group","start_time":0,"source_url":"","article_id":"1140960772","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1140960772","pubTimestamp":1731944788,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Bitdeer Technologies Group  witnessed a significant surge of 5.12% in its stock price during the intraday trading session on Monday, November 18th. 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